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Philippines & Indonesia gets Local Bank Withdrawals from Paypal

Paypal members in the Philippines and Indonesia gets a very early new year’s treat with the introduction of direct local bank withdrawals made effective yesterday. I an email announcement to all users on both South-East Asian countries, Paypal will now accept funds in their respective local currencies.

Paypal PhilippinesThis feature was only previously available with US-based bank accounts. This is now possible for Paypal members in Indonesia and the Philippines on top of the existing methods (credit card, debit card or prepaid cards).

For Indonesian users, withdrawals of IDR1.5 Million (Indonesian Rupiah) or more are free. For withdrawal amounts of less than IDR1.5 Million, there will be a fee of IDR16,000. For Philippine users, withdrawals of Php7,000 or more are free. For withdrawal amounts less than Php7,000 there will be a fee of Php50. If you still have a US-based Paypal account, withdrawals to a US-based bank will incur a $5 fee.

The “almost complete” feature was delivered by the eBay subsidiary in the Philippines (including neighboring ASEAN countries such as Malaysia and Indonesia) in just a span of 4 months after it originally made the news last September 2007. The only other lacking feature is being able to fund your Paypal account with your local bank account. Otherwise, this development has finally concluded the expansion of Paypal in these parts of the region.

I’ve dispatched an email to the reps of eBay/Paypal for South East Asia with additional questions. I am actually more interested in how this speedy development has got to do with eBay Philippines and its apparent migration to the subscription model.

Update: Here’s a copy of the official Paypal Press Release sent to me today:

Philippines, 28 Jan 2008 – PayPal, an eBay company, announced today a new bank withdrawal feature that enables registered PayPal users in the Philippines to withdraw money from their PayPal account directly to a Philippines bank account.
This new feature allows Philippine sellers to gain fast and convenient access to their funds and makes doing business on eBay and globally even easier.

“We are constantly looking for ways to improve the user experience for PayPal members and are excited to offer this new bank withdrawal feature which we believe will provide greater convenience for Philippine sellers,” said Sandeep Lal, Vice President of PayPal International.

The new withdrawal method is in addition to the existing withdrawal options to a Visa® debit card, credit card, prepaid card, or US bank account. A complete list of withdrawal options can be viewed here.

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Avatar for Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

25 Responses

  1. Avatar for john michael B. duma john michael B. duma says:

    hello! good day everyone!
    my friend from Australia send me a money using PayPal.. i already accept the money in my PayPal account, but then when i withdraw the money in my account it says that i have to link and confirm my debit card.. im using a BPI express teller.. i tried to link my card but i doest have the necessary information that the PayPal wants.. such as the security code and expiration date of my debit card.. how can i possibly withdraw my money? my bank says that they don’t know about this and i am so worried about my money for it is pending and is not yet deposited to my account..please help me.. email me johnmichael_dum****@****.***
    please.. huhuhuhuhu.. help me please..THANK YOU in advance!!!

  2. Avatar for kailachen88 kailachen88 says:

    If I dont have any bank accounts and yet i have paypal account, how can I withdarw my Pypal account?

    Thank you.

  3. Avatar for DarkChaos007 DarkChaos007 says:

    can i use my Metrobank ET in paypal?

    what is Metro bank bank code?

    i want to try it using Paypal…

  4. Avatar for LMGZgurl LMGZgurl says:

    hello
    just needs some clarifications.
    im here in denmark and i want to send money in the philippines using an paypal account.
    my question is if im going to use to send money with the paypal does a local bank account (bpi holder) can receive it or withdraw it?and how long would it takes to receive money from paypal to local bank account?
    please clarify my questions asap!
    thanks and more power!

  5. Avatar for Nique Nique says:

    hey yuga so i have a paypal account i want to have a separate account for my internet transactions which bank accounts here in the philippines should i link it to? union bank? as it has no eft? and does not have a minimum balance? pls enlighten me with this im a newbie at paypal and linking it to bank accounts

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